The Tata group’s penchant for history is remarkable. Eight months ago they snapped up Corus — formerly British Steel — and a symbol of British industrial might. Then they bought Pierre, the fabled New York hotel built by a Corsican immigrant as the Great Depression was breaking upon the New World in 1929. On Monday, they did one better.
Group company Indian Hotels snapped up 10% of Orient Express Hotels Trains and Cruises for about $211 million. Orient Express owns, part-owns and manages 35 hotels in 25 countries. It also runs cruises and luxury trains, the most famous being the Venice Simplon-Orient-Express, the modern day avtaar of the legendary luxury train.
(Source: Economic Times)
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